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Centre reschedules the passage of Real Estate Bill to next year

Real estate pundits were busy evaluating the prospects of the Real Estate Bill 2015. The talks and debates started after the Bill cleared all the barriers including the Parliamentary committee scrutiny and the Cabinet approval. But the much awaited Bill will be arriving a bit late than expected. The Bill was not passed in this recently concluded winter session of the Parliament.

Following the formidable opposition faced and the persistent disruptions in the Rajya Sabha, Centre had decided to postpone the moving of the amended Real Estate (Development and Regulation) Bill in Parliament that it will seek to get it through in the next year. Towards the end of the Parliament session, Centre was initiating for passing other crucial legislations that are not controversial in nature.

The Real Estate Bill was referred to a select committee which gave produced a report in July. However, opposition parties had expressed reservations on the report through dissent notes. The legislation is spearheaded by Ministry of Housing and Urban Poverty Allegation, which accepted all the changes suggested by the select committee. After further amendments, the Cabinet approved it on December 9.

Recently concluded Parliamentary session was mostly washed out. It witnessed severe tussle between opposition and the government on various issues, whom later blamed each other on the ruining out of precious time.

The statistics of the winter session underlined this malfunctioning. In Lok Sabha the government enjoys a comfortable majority. This enabled the government to pass the scheduled 14 bills with ease in Lok Sabha. This amounted to over 100 per cent productivity. Where as in Rajya Sabha, government was able to pass only 9 bills and registered only productivity of 46 per cent only.